iCareTech’s C+ band, which was featured on the January 30 edition of NewsWatch’s monthly Tech Report, is an early example of what’s shaping up to become a wave of new wearable health-related technology products and services offered to consumers. Unlike most new technology trends that target younger demographics, smart, wearable health devices are predicted to target aging populations, helping them manage cardiovascular or respiratory diseases, such as COPD, leading to reduced healthcare costs and improved quality of life.

Wearable technology has been a popular topic of debate and conversation over the past couple of years. Research and Markets’ just-announced “Global Smart Wearable Healthcare Devices and Services Market 2015-2019″ report forecasts that the Global Smart Wearable Healthcare Devices and Services market will grow at a CAGR of 30.42% over the period 2015-2019, fueled by new wearable computing devices like Apple’s forthcoming Apple Watch smartwatches.

The report covers current status and growth potential of the Global Smart Wearable Healthcare Devices and Services market for 2015-2019 separated into two categories: “Smart Wearable Healthcare Devices” and “Smart Wearable Healthcare Services.”

Research And Markets defines “smart wearable healthcare devices” as those are worn or attached to a user’s body to monitor changes in various organs and body functions. Examples of wearable healthcare devices include smartwatches, wearable hands, smart diapers, wristbands, pedometers, and bionic suits. Important features of these devices include heart rate monitoring, sleep statistics, counting calories spent and ingested, monitoring babies’ body temperature and sleep statistics, remote cardiac and pulmonary monitoring, and ability to monitor and track the user’s daily physical activities.

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These devices are intended and designed to sync with users’ smartphones and tablets says NewsWatch’s Scott Steinberg in a press release. “Increased use of smart wearable devices for tele-home healthcare is one of the key trends in the market. Smart wearable devices enhance treatment and monitoring processes by saving time and reducing healthcare costs. These devices help physicians to monitor patients from a remote place and provide proper treatment.”

iCareTech is a new high-tech startup focused on mobile healthcare and wearable medical devices. Their objective is to synergism professional technology with mobile applications that will assist medical practitioners and clinicians with monitoring patients’ health. The C+ band, which can detect the wearer’s oxygen saturation, heart rate and skin temperature is iCareTech’s first generation product.

The C+ band’s target demographic is individuals who have or are at risk of developing cardiovascular or respiratory diseases, such as COPD or OSA. However, anyone can use C+ band as a tool for learning more about their health.

According to the report, aging populations more vulnerable to chronic diseases are expected to play a pivotal role in boosting demand for smart wearable healthcare devices. Longer life expectancy has led increasingly greying populations in North America, Western Europe, Japan, and elsewhere, with concurrent increases in chronic disorders including diabetes, arthritis, cancer, obesity, heart disease, asthma, and COPDs in these regions. Consequently, monitoring the health conditions and daily activities of the elderly, especially, the huge baby boomer demographic, has become essential.

The report also anticipates that privacy and security of data will be key concerns associated with growth of a Global Smart Wearable Healthcare Devices and Services market. While smart wearable healthcare devices are small, they store highly sensitive user information, Andy possibility of these devices being misplaced or lost is high because of their small size. Loss of a device can cause security breaches and misuse of personal health-related information.

Current players in the Global Smart Wearable Healthcare Devices and Services market include:

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